{"id":3673,"date":"2009-04-29T10:37:59","date_gmt":"2009-04-29T14:37:59","guid":{"rendered":"http:\/\/www.prosebeforehos.com\/?p=3673"},"modified":"2009-04-29T10:37:59","modified_gmt":"2009-04-29T14:37:59","slug":"who-are-you-people","status":"publish","type":"post","link":"https:\/\/www.prosebeforehos.com\/news-to-make-you-blue\/04\/29\/who-are-you-people\/","title":{"rendered":"Who are you people?"},"content":{"rendered":"

Nothing says getting out of a recession like keeping up the behavior that got us into it in the first place:<\/p>\n

In the first quarter of 2009<\/a>,<\/p>\n

The U.S. economy shrank at a pace of 6.1% in the first quarter<\/p><\/blockquote>\n

Yet…<\/p>\n

Purchases by individuals rose at an annual 2.2% rate, the first time personal spending rose since the second quarter of 2008.<\/p><\/blockquote>\n

But…<\/a><\/p>\n

Personal income decreased $29.1 billion, or 0.2 percent, and disposable personal income (DPI) decreased $10.5 billion, or 0.1 percent, in February, according to the Bureau of Economic Analysis.
\nPersonal consumption expenditures (PCE) increased $17.2 billion, or 0.2 percent.<\/p><\/blockquote>\n

So, let’s get this straight. Personal income decreased by approximately $30 billion, the GDP shrank by 6.1%, and yet people are spending 2.2% more than they were a year ago? Are you people trying to get your god damn flat screen TV’s foreclosed?!<\/p>\n

See Also:<\/strong> Confidence Is Up<\/a>, The disconnect of my economy with the money economy<\/a>, What Good Is Modern Finance?<\/a>, GDP Falls 6.1%<\/a>, GDP falls 6.1% in the first quarter. What does that mean?<\/a>, Weaker Than Expected GDP<\/a>, Team Obama Miscalculates US GDP Growth By Nearly Half a Trillion Dollars<\/a>, Not Depressed Yet<\/a>, The rising specter of unemployment<\/a>, The End of Capitalism?<\/a>, and Tuning Back In to the Economy<\/a>.<\/p>\n

[tags]economy, personal income, contraction, recession, behavioral economics, spending money, personal consumption, gdp numbers, first quarter 2009, april 2009, economics, individual spending, expenditures, disposable income, consumer spending, 2009 stats[\/tags]<\/p>\n","protected":false},"excerpt":{"rendered":"

Nothing says getting out of a recession like keeping up the behavior that got us into it in the first place: In the first quarter of 2009, The U.S. economy shrank at a pace of 6.1% in the first quarter Yet… Purchases by individuals rose at an annual 2.2% rate, the first time personal spending […]<\/p>\n","protected":false},"author":27,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"yoast_head":"\nGDP and Personal Income Shrinks and Yet Consumer Spending Increases<\/title>\n<meta name=\"description\" content=\"Keeping up the behavior that sparked the recession in the first place: GDP and personal income fall and yet consumer spending increases by 2.2 percent in the first quarter of 2009\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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